What Veterans Need To Know About Buying A Home Near Boise Idaho...
First, let me thank you for your service. Without patriots like you, I would not be selling the best real estate in the most stable and free economy in the entire world.
Working as a buyer's agent in the Boise housing market since 1991, I am ever-ready to facilitate your search for a home and walk you through the home-buying process.
$1000 may be all you need to buy a home using VA!
I have helped many vets use VA's zero-down loans and several got some earnest money back at closing because the seller paid all the closing costs. Next month's rent might be all you need. Contact me today for a good VA lender.
And there are even more substantial benefits to VA loans:
- VA charges no monthly mortgage insurance, saving you at least 1.25% per year on payments, compared to other loans with less than 20% down. For guaranteeing the loan, VA charges an up-front funding fee similar to the FHA mortgage insurance premium, both are most often financed into the loan. This funding fee can be waived/reduced for disabled veterans, saving you possibly thousands.
- VA loans are assumable, which could be a huge benefit in the future. With today's interest rates near historical lows, it is very likely rates will be higher when you sell. Your home will likely sell faster and for more money if a qualified buyer can cash you out and assume your below-market rate with only a half percent assumption fee, which is only a sixth of the cost of a new loan.
- Extra financing for energy efficiency improvements
It's been a couple of years since I had Veteran use this program, but last I checked, veterans can borrow up to $6,000 extra for insulation, more efficient windows, AC and furnace.
There are minor drawbacks to using VA financing. In fact, I counsel my sellers to expect to get beaten up under VA offers, which could put you at a disadvantage when competing against other financed offers.
- VA has the most stringent property standards in the business for health & safety. This can make it difficult to buy a fixer-upper, unless the seller is willing to do repairs or allow repairs to be done- some foreclosure sellers won't. And many short sale sellers don't have the money to do repairs.
- The Veterans Administration's appraisers are extremely conservative on appraisal value, keeping you from over-paying, probably why VA Repos are rare in the Boise area today.
- VA also makes sellers pay more than usual toward your closing costs. Sometimes you'll see listings that say "add $500 for VA" to cover your half of the closing fee, document preparation and tax service fees -normally buyer's costs- that are required to be paid by sellers.
Ask me for good local lenders experienced in originating VA loans. They can also help you get your DD214 Certificate of Eligibility.
Contact me for free expert help using a VA loan to buy your next home in the Boise Idaho area. Remember the seller pays me and I don't get paid unless you get a house.
I serve buyers in the following areas of SW Idaho: Boise, Meridian, Eagle, Star, Kuna, Nampa, Caldwell, Middleton, Ada County, Canyon County. If you are looking for a home, condo, townhome, townhouse or home with acreage for sale, Repoman knows where the best buys are.